India’s rice stocks reach record high
While its wheat stocks continue to drop, India’s rice stocks hit a record at the beginning of January, reaching eight times the government’s target, Reuters reported. Rice reserves totaled 60.9 million tonnes on Jan. 1, much higher than the target of 7.6 million tonnes. Wheat stocks were at 18.4 million tonnes, above the target of 13.8 million...
New grain terminal opens in Saudi Arabia
National Grain Co., a joint venture between the Saudi Agricultural and Livestock Investment Co. (SALIC) and Bahri, inaugurated the Yanbu Grain Handling Terminal on Dec. 22 at Yanbu Commercial Port. The company said the new terminal features a storage capacity of 156,000 tonnes, including 12 silos with a total capacity of 96,000 tonnes and a...
Heat, dryness expected in Brazil
Most of the commodity trade fear of La Niña negatively influencing South America has passed. Weather conditions since the end of October have been mostly very good in Brazil and Argentina and the market mentality has been more bearish than bullish over futures prices; however, changing weather this month is likely to bring a little...
Russia to cut wheat exports
Reuters reported, citing the Russian government, that Russia, the world’s leading exporter, plans to cut its wheat export quota by two-thirds in 2025. It will also hike wheat export duties by over 18% beginning Dec. 4, 2024, and eliminate import quotas for some staple foods. The Eurasian Economic Union (EEU) Council said Russia’s export quotas...
Renewables, Trade segments boost The Andersons earnings
Strong renewables production and improved results in the Trade segment boosted The Andersons net income attributable to the company to $27 million, equal to 80¢ per share on the common stock, for the third quarter ended Sept. 30, up from $9.7 million, or 28¢ per share, in the same quarter a year earlier. “Overall, we...
US grain exports in all forms increase 26%
Exports of US grains in all forms increased by 26% to 109.4 million tonnes in the 2023-24 marketing year, according to data released by the US Department of Agriculture (USDA). The exports, valued at $48 billion, were bolstered by a record 1.75 billion gallons of ethanol sold internationally and a single-market record 23.4 million tonnes...
India ends non-basmati rice export ban
The Indian government will resume non-basmati white rice exports with a minimum floor price of $490 per tonne, ending a ban that started in July 2023. The government has gradually eased restrictions on premium, aromatic basmati and parboiled varieties in the last several weeks. It eliminated the minimum floor price for basmati rice exports and...
Egypt expected to produce more wheat in 2024-25
According to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture, Egypt is expected to produce more wheat in 2024-25 as the government encourages an increased planted area and higher yields. Production is estimated at 9.2 million tonnes, up from 8.87 million a year earlier. The FAS said that High...
Grains and oilseeds powerhouse
The presence of two of the world’s most important agricultural producers and exporters — Brazil and Argentina — makes South America a powerhouse of world grains and oilseeds production and trade. The two make the region the leader in world soybean production, also producing large crops of maize (corn) and a significant tonnage of wheat....
Brazil’s grain production dips in 2023-24
Grain production in Brazil is estimated at 298.41 million tonnes for the 2023-24 marketing year, a drop of 21.4 million tonnes compared to the previous year, according to Conab, the country’s food supply and statistics agency. This would still be the second largest crop in the survey’s history. In its 12th Grain Harvest Survey for 2023-24...